This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loss amounts as a negative number.) Beginning Inventory Net Income or (Loss) Net Purchases Ending Inventory Cost of Goods Sold Net Sales Gross Profit Expenses 280,000 144,800 76,000 104,000 35,200 135,200 72,000 63,200 . 280.000 264,000 470,000 73,000 20,000 b. 441,000 160,000 630,000 180,000 170,000 189,000 C. 135,000 820,000 450,000 234,000 280,000 290,000 350,000 120,000 156,000 (15,000)